Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Rating Upgraded by Wall Street Zen

Key Points

• Mirum Pharmaceuticals' rating was upgraded from "buy" to "strong-buy" by Wall Street Zen, indicating increasing analyst confidence in the company's stock.
• Evercore ISI and HC Wainwright have also raised their price targets for Mirum Pharmaceuticals, with the consensus price target now set at $74.13.
• The company reported a quarterly revenue of $127.79 million, exceeding analysts' expectations, resulting in a year-over-year revenue increase of 64.1%.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Sunday.

Several other analysts have also weighed in on the company. Evercore ISI upped their price objective on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Stifel Nicolaus set a $89.00 price objective on Mirum Pharmaceuticals and gave the stock a "buy" rating in a research note on Monday, August 11th. HC Wainwright increased their price objective on Mirum Pharmaceuticals from $73.00 to $80.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 7th. Finally, JMP Securities set a $81.00 target price on Mirum Pharmaceuticals and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $74.13.

Mirum Pharmaceuticals Stock Up 2.7%

MIRM stock traded up $1.7550 during midday trading on Friday, hitting $66.9150. 124,781 shares of the company's stock were exchanged, compared to its average volume of 501,225. The company has a current ratio of 3.13, a quick ratio of 2.97 and a debt-to-equity ratio of 1.21. Mirum Pharmaceuticals has a 12-month low of $36.86 and a 12-month high of $69.27. The firm has a 50 day moving average price of $53.61 and a 200-day moving average price of $48.03. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of -55.21 and a beta of 0.94.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, beating analysts' consensus estimates of ($0.31) by $0.19. Mirum Pharmaceuticals had a negative return on equity of 24.76% and a negative net margin of 13.65%.The business had revenue of $127.79 million during the quarter, compared to the consensus estimate of $107.91 million. During the same period in the previous year, the business earned ($0.52) EPS. The business's quarterly revenue was up 64.1% on a year-over-year basis. On average, analysts anticipate that Mirum Pharmaceuticals will post -1.43 EPS for the current year.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $58.00, for a total value of $580,000.00. Following the completion of the sale, the senior vice president owned 2,426 shares in the company, valued at approximately $140,708. This trade represents a 80.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Peetz sold 40,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $62.00, for a total value of $2,480,000.00. Following the completion of the sale, the chief executive officer owned 138,641 shares of the company's stock, valued at $8,595,742. This represents a 22.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 91,041 shares of company stock valued at $5,320,624 in the last quarter. Corporate insiders own 22.87% of the company's stock.

Institutional Trading of Mirum Pharmaceuticals

A number of hedge funds have recently modified their holdings of MIRM. CWM LLC lifted its position in shares of Mirum Pharmaceuticals by 259.4% during the 1st quarter. CWM LLC now owns 593 shares of the company's stock worth $27,000 after buying an additional 428 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Mirum Pharmaceuticals during the 4th quarter worth approximately $35,000. Comerica Bank lifted its position in shares of Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company's stock worth $40,000 after buying an additional 278 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Mirum Pharmaceuticals during the 4th quarter worth approximately $42,000. Finally, Quarry LP bought a new position in shares of Mirum Pharmaceuticals during the 1st quarter worth approximately $56,000.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.